London offshore drilling co. scoops up Houston co.

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Houston-based Atwood Oceanics Inc. (NYSE: ATW) is being acquired by London-based Ensco PLC (NYSE: ESV) in a major offshore drilling deal. The all-stock deal is expected to result in a combined $6.9 billion company, according to a release. Atwood shareholders will receive 1.60 shares of Ensco for each share of Atwood common stock for a total value of $10.72 per Atwood share based on Ensco’s closing share price of $6.70 on May 26. That’s a 33 percent premium on Atwood’s closing price that day. The…


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